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Latest News
<< Most Recent Articles
Desire for 'flashy cars could lead to credit crisis for UK men'
New research carried out by Fool.co.uk has found that many people in the UK are underestimating the effects of depreciation when planning to buy a new car.
According to the findings, the average consumer believes a cars value will decrease by ten per cent a year, in actual fact this figure is closer to 15 per cent.
The research also found that 40 per cent of men wanted a new car to turn heads and make others envious, while 40 per cent of women wanted a car with excellent green credentials.
David Kuo, head of personal finance at Fool.co.uk, says: "Jokes are often made about flashy cars representing mid-life crises, but it's no laughing matter when one in six people say upcoming car purchases will be made on credit."
In related news, financial comparison site MoneyExpert has warned that uninsured drivers are pushing up the premiums for other drivers.
Its research found that insured drivers pay an extra £400 million per year to cover damage caused by uninsured drivers.
See how much you could borrow with a car loan from Lombard Direct
© Adfero Ltd
19/05/2008 14:09:26
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